Professor J. Richard Harvey of Villanova University said in his opening statement that he “almost fell out of my chair” when Apple claimed that it does not use tax gimmicks, a statement that is surely good news to Chairman Carl Levin’s ears.

Professor Harvey then began to describe the various tax loopholes and gimmicks that Apple utilized, saying that the most important question is that should something be done and what should be done.

His answer to the question was the something should be done. The two courses are to wait for a global consensus to emerge or that Congress could take action. He then gave a series of recommendations such as tightening various rules, eliminating some rules to make the tax code less complex and less easy to exploit, and implementing more transparency.